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Bond Market News
US to Reconsider Capital Hikes for Big Banks
May 20, 2024
The Federal Reserve along with two US regulators are considering a new plan that would significantly reduce the mandated 20% increase in capital requirements for the big banks floated in the new Basel Proposal unveiled last year. According to the WSJ report, the required increase in capital would reduce to half of what was originally planned. Big banks like JP Morgan and Goldman Sachs had lobbied against the initial Basel proposal saying that it would force them to shut down a range of businesses. All the three agencies, i.e., the Federal Reserve, FDIC and OCC are still considering substantive and technical revisions. However there is no guarantee that an agreement will be reached.
Dollar bonds of US banks traded stable with Goldman’s 3.75% 2025s at 98.4 cents on the dollar, yielding 6.08%.
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